Live cattle futures tried to rebound at the open, but faded lower just as fast, with contracts down $1 to $1.50. December is the exception, unch at midday, with options expiration this Friday. Cash action was tallied in a range of $176-177 last week, a $1-2 drop from the week prior. Much of today’s action is compiling showlists, and any cleanup from last week’s short week. Feeder cattle in collapse mode, with contracts down $3.85 to $4.30. The CME Feeder Cattle Index was down 44 cents on November 23 to $225.24.Â
USDA reported Wholesale Boxed Beef prices higher in the Monday morning release. Choice boxes were up 33 cents to $298.38, with Select $3.33 higher to $272.09. That narrowed the Chc/Sel spread to $26.29. Federally Inspected cattle slaughter for last week was 538,000 head. That was down 51,000 head compared to the same holiday week last year. Slaughter YTD is down 4.7% from last year at 29.189 million head.
Dec 23 Cattle  are at $170.250, unch,
Feb 24 Cattle  are at $169.950, down $1.025,
April 24 Cattle  are at $172.025, down $1.275,
Cash Cattle Index was $177.000, from $178.00 last week
Nov 23 Feeder Cattle  are at $228.640, down $0.735
Jan 24 Feeder Cattle  are at $215.475, down $3.850
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
/Microsoft%20Corporation%20logo%20on%20sign-by%20Jean-Luc%20Ichard%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
/Alphabet%20Inc_%20and%20Google%20logos%20seen%20displayed%20on%20a%20smartphone%20by%20IgorGolovniov%20via%20Shutterstock.jpg)
/Phone%20and%20computer%20internet%20network%20by%20Pinkypills%20via%20iStock.jpg)